nCino (NASDAQ:NCNO) PT Lowered to $50.00 at Piper Sandler

nCino (NASDAQ:NCNOGet Rating) had its price target decreased by analysts at Piper Sandler from $55.00 to $50.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 56.20% from the stock’s previous close.

NCNO has been the subject of a number of other reports. Robert W. Baird cut their price objective on nCino from $60.00 to $55.00 in a research report on Monday, April 4th. Needham & Company LLC dropped their price target on nCino from $85.00 to $60.00 and set a “buy” rating for the company in a report on Friday, April 1st. Zacks Investment Research raised nCino from a “sell” rating to a “hold” rating in a report on Saturday, March 5th. KeyCorp dropped their price target on nCino from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Morgan Stanley initiated coverage on nCino in a report on Wednesday, April 13th. They set an “overweight” rating and a $60.00 price target for the company. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $60.24.

NCNO stock opened at $32.01 on Thursday. The company has a quick ratio of 3.62, a current ratio of 3.62 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $37.17 and a two-hundred day moving average price of $45.86. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -62.76 and a beta of 0.92. nCino has a twelve month low of $23.94 and a twelve month high of $79.43.

nCino (NASDAQ:NCNOGet Rating) last posted its quarterly earnings results on Wednesday, June 1st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $94.21 million during the quarter, compared to the consensus estimate of $91.42 million. nCino had a negative return on equity of 11.43% and a negative net margin of 18.06%. The business’s revenue was up 51.1% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. On average, equities research analysts anticipate that nCino will post -0.63 EPS for the current fiscal year.

In other news, VP Jeanette Sellers sold 13,566 shares of the business’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $42.76, for a total value of $580,082.16. Following the transaction, the vice president now directly owns 27,940 shares of the company’s stock, valued at approximately $1,194,714.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joshua L. Glover sold 1,663 shares of the business’s stock in a transaction dated Wednesday, April 6th. The shares were sold at an average price of $43.63, for a total value of $72,556.69. Following the completion of the transaction, the insider now directly owns 228,255 shares in the company, valued at $9,958,765.65. The disclosure for this sale can be found here. Insiders have sold a total of 87,487 shares of company stock worth $3,730,255 in the last 90 days. 37.20% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in NCNO. Advisor Group Holdings Inc. increased its holdings in nCino by 3.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 9,030 shares of the company’s stock worth $495,000 after purchasing an additional 288 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of nCino by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 6,075 shares of the company’s stock valued at $333,000 after acquiring an additional 306 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of nCino by 52.8% in the fourth quarter. Lazard Asset Management LLC now owns 938 shares of the company’s stock valued at $51,000 after acquiring an additional 324 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of nCino by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,740 shares of the company’s stock valued at $918,000 after acquiring an additional 384 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in nCino by 10.1% in the fourth quarter. CIBC Asset Management Inc now owns 4,248 shares of the company’s stock valued at $233,000 after purchasing an additional 388 shares during the last quarter.

About nCino (Get Rating)

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

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